Gangantsetseg, 42, is widowed and lives with her daughter in the Songinohairhan district of Ulaanbaatar, the capital of Mongolia. She and her daughter live in a house and her daughter attends local secondary school. They have a decent standard of living. Gangantsetseg began in the water pipe trading business at a local market in 2004 and has been operating for seven years continuously. She used to operate her business with her husband who passed away in 2008. Now her sister operates one of her stalls for 200,000 MNT monthly. Gangantsesteg's daily net income is 200,000 MNT and she pays 160,000 MNT for monthly rent of the stalls that she operates. She imports water pipes from Erlian, the closest border city of China, and spends 400,000 MNT for transportation fees. Her monthly gross income is between 700,000 to 1,000,000 MNT. Gangantsesteg is a modest and polite person who says, " I try to save money because I want to send my daughter abroad to get a very good education in the future". She is requesting a loan of 3,000,000 MNT to import water pipes or other items for her business.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.